Friday, May 25, 2007

de Soto article

This article was written awhile ago, but emphasizes the massive advantage formalized property systems have over those in the extralegal sector:
In Banda Aceh, Indonesia, 200,000 homes were washed away, most of them built without property titles.

When the water receded from Nam Khem, Thailand, a well-connected tycoon rushed in to grab the valuable beachfront. The survivors of the 50 families that had occupied the shore for a decade protested, but they didn't have legally documented property rights to back up their claims.

That is the case with the majority of people in the developing and ex-Soviet world, where legal systems are inaccessible to most of the poor.

Also, check out the links provided by the ILD for more cool stuff.

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